Blueshift Asset Management LLC Acquires Shares of 18,241 McDonald’s Co. (NYSE:MCD)

27 Nov 2024, 16:24 by Michael Walen · The Markets Daily

Blueshift Asset Management LLC acquired a new position in McDonald’s Co. (NYSE:MCD – Free Report) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 18,241 shares of the fast-food giant’s stock, valued at approximately $5,555,000. McDonald’s accounts for about 1.4% of Blueshift Asset Management LLC’s portfolio, making the stock its 5th largest holding.

Several other large investors have also recently bought and sold shares of the company. Hara Capital LLC acquired a new position in shares of McDonald’s during the third quarter valued at $44,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the 2nd quarter valued at $38,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s in the 3rd quarter valued at $58,000. Opal Wealth Advisors LLC acquired a new position in McDonald’s in the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s during the second quarter worth about $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Tigress Financial boosted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $319.46.

View Our Latest Stock Report on MCD

McDonald’s Stock Up 0.0 %

Shares of NYSE:MCD opened at $296.31 on Wednesday. The stock has a market cap of $212.34 billion, a PE ratio of 26.01, a P/E/G ratio of 3.94 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The business has a 50 day moving average of $299.90 and a 200-day moving average of $278.55.

McDonald’s (NYSE:MCD – Get Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,597 shares of company stock valued at $10,702,754. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Profile

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